Everstone and GLP establish modern logistics ecosystem partnership in India
December 14, 2018: Investment group Everstone and a leading global provider of logistics facilities and technology-led solutions GLP have established a long-term partnership dedicated to investing in the logistics ecosystem in India.
December 14, 2018: Investment group Everstone and a leading global provider of logistics facilities and technology-led solutions GLP have established a long-term partnership dedicated to investing in the logistics ecosystem in India. The collaboration expects to invest approximately $500 million in strategies and technologies to enhance logistics efficiency, while connecting customers with innovative solutions that drive value and competitiveness.
Everstone and GLP said that they see significant opportunities across the logistics value chain in India, including express-delivery, smart trucks, telematics and automation/robotics. The partnership will leverage GLP’s extensive expertise in pioneering modern logistics ecosystems and Everstone’s large and growing network through its private equity, infrastructure and real estate portfolio.
Sameer Sain, Co-Founder and CEO of the Everstone Group, said, “Our existing capabilities and national network, coupled with GLP’s strong global track record and expertise will enable us to add significant value to our investments.”
Ming Mei, co-founder and CEO of GLP said, “We see significant room to further integrate the use of technology in India’s logistics industry. We look forward to working closely with Everstone to establish a smart ecosystem that harnesses technology to accelerate growth, create value and drive returns for all stakeholders in India.”
In September 2018, GLP entered the India market through the establishment of a strategic joint venture with IndoSpace, the largest industrial real estate company and part of the Everstone Group.